UK Finance Minister John Healey unveiled his first fiscal budget with measures to ease cost-of-living pressures, including removing standing charges on household gas heating bills, extending an electricity tax break through July 2027, and £100 ($133) payments for households in the four lowest local housing tax bands, costing £2.6 billion. The budget also removes tariffs on over 100 grocery products, raises the minimum wage by 3.9%, and provides £10 billion in support for Ukraine. Inflation rose to 3.5% in September on surging fuel costs, and markets expect the Bank of England to raise rates next month. The Office for Budget Responsibility forecasts £15 billion of fiscal headroom by 2029/30 and national debt reaching 81.7% of GDP by the 2032 financial year, while the government pledges to spend 3.5% of GDP on defense by 2035.
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GBP/USD
• NeutralRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/27/2026 | 1.33072 |
| Change that session | -0.26% |
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